Common use of Restriction Upon Shares of Stock Issued Upon Exercise Clause in Contracts

Restriction Upon Shares of Stock Issued Upon Exercise. At the time of the issuance of any shares of Stock upon exercise of the Option, Employee will, upon the request of the Company, agree in writing that he is acquiring such shares for investment only and not with a view to resale, and that he will not sell, pledge or otherwise dispose of such shares so issued unless and until (i) the Company is furnished with an opinion of counsel to the effect that registration of such shares pursuant to the Securities Act of 1933, as amended (the "Securities Act"), is not required by the Securities Act and the rules and regulations thereunder and any applicable state securities laws; or (ii) such registration or notification as is, in the opinion of counsel for the Company, required for the lawful disposition of such shares has been filed by the Company and has become effective; provided however, that the Company is not obligated to file any such registration or notification. Employee further agrees that the Company may place a legend embodying such restriction on the certificate(s) evidencing such shares.

Restriction Upon Shares of Stock Issued Upon Exercise. At the time of the issuance of any shares of Stock upon exercise of the Option, Employee will, upon the request of the Company, agree in writing writing, that he is acquiring such shares for investment only and not with a view to resale, and that he will not sell, pledge or otherwise dispose of such shares so issued unless and until (i) the Company is furnished with an opinion of counsel to the effect that registration of such shares pursuant to the Securities Act of 1933, as amended (the "Securities Act"), is not required by the Securities Act and the rules and regulations thereunder and any applicable state securities laws; or (ii) such registration or notification as is, in the opinion of counsel for the Company, required for the lawful disposition of such shares has been filed by the Company and has become effective; provided however, that the Company is not obligated to file any such registration or notification. Employee further agrees that the Company may place a legend embodying such restriction on the certificate(s) evidencing such shares.

Restriction Upon Shares of Stock Issued Upon Exercise. At the time of the issuance of any shares of Stock upon exercise of the Additional Option, Employee will, upon the request of the Company, agree in writing that he is acquiring such shares for investment only and not with a view to resale, and that he will not sell, pledge or otherwise dispose of such shares so issued unless and until (i) the Company is furnished with an opinion of counsel to the effect that registration of such shares pursuant to the Securities Act of 1933, as amended (the "Securities Act"), is not required by the Securities Act and the rules and regulations thereunder and any applicable state securities laws; or (ii) such registration or notification as is, in the opinion of counsel for the Company, required for the lawful disposition of such shares has been filed by the Company and has become effective; provided however, that the Company is not obligated to file any such registration or notification. Employee further agrees that the Company may place a legend embodying such restriction on the certificate(s) evidencing such shares.